What % of total sales is your building lease (including CAM). I have read that 5-7% is normal and not to accept anything over 7%. However, all the leases I have looked at are in the 9.5% area. Also do you know what build out allowance you were given per sq foot. Is $35.00 per sq foot a good build out allowance? Any help would be great.
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Brewpub Building Leases???
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I'm in the process of obtaining a lease. I've found the following... In Nothern VA, space goes for around $12/sq foot /year (... a buck a month), no utilities included.
In between Baltimore and DC, I spoke with a guy who owns and rents out several retail locations. He says that he figures a yearly lease by taking the price of the building and land and charging a lease of 10 percent of that total per year.
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CAMs
We lease in a Mall parking lot and the rent is outrageous and the CAMS are huge. Probably around 17% specially if they deceide to replace all the lights in the parking lot. The big anchor stores with 20,000 sq. ft or more are exempt from CAMS. Make sure your lease is still good f the place is sold. Be aggressive. Once you are established you will have the bargining chip! Good luckKai Adams
Sebago Brewing Company
www.sebagobrewing.com
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Lease
jrdamas, I am currently negotiating a lease in Fort Worth, TX. Our propsoed sales would put us at about 8 - 9% (lease/gross sales). We have a 7,000 sq. ft. spot, there will be a rather large restaurant area, and a more/less separated pub area. We are allocating $500,000 for renovating everything, down to toilet paper holders. So that figures to be about $75/sq. ft. We are doing a rather upscale interior though. I hope this info helps you.
Jamie______________________
Jamie Fulton
Community Beer Co.
Dallas, Texas
"Beer for the Greater Good"
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Re: Lease
Forgot to mention that the "spot" is a freestanding building with a kitchen area, walk-in freezers and grease trap already installed. All of the HVAC and all that is already in too. Didn't know how complete your space is.....
jamie______________________
Jamie Fulton
Community Beer Co.
Dallas, Texas
"Beer for the Greater Good"
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